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KuCoin is facilitating the migration of WELL tokens from Moonbeam to Base, giving holders on the exchange one less thing to worry about as Moonbeam prepares to shut down entirely on July 31, 2026.

The move means KuCoin users holding WELL on the Moonbeam network won’t need to manually bridge their tokens. The exchange will handle the swap internally, converting Moonbeam-based WELL to Base-native WELL through a token swap process.

Why the migration matters Moonbeam, the Polkadot-connected smart contract platform, is winding down operations entirely. The network has announced a full shutdown scheduled for July 31, 2026, which includes a one-to-one migration of its native GLMR token to Base.

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Moonwell operates as a cross-chain lending and borrowing protocol across several EVM-compatible networks, including Base, Moonbeam, Optimism, and Moonriver. With Moonbeam going dark, the protocol has been actively encouraging token holders to transfer their WELL to supported chains using built-in tools available through the Moonwell app, no external bridges required.

WELL has been upgraded to xERC20 standards specifically to enable this kind of multichain functionality.

KuCoin, which has listed WELL since June 2022 and offers a WELL/USDT trading pair, has been issuing alerts to users about withdrawing Moonbeam-based assets ahead of the shutdown.

What this means for investors WELL has been trading in a tight range between $0.0033 and $0.0037, with modest volumes that suggest most participants are watching from the sidelines.

For KuCoin users specifically, the automatic swap removes the biggest friction point. Instead of navigating bridge interfaces and managing gas tokens on multiple networks, holders can sit tight and let the exchange handle the conversion.

The July 31 deadline creates a natural forcing function. Anyone still holding WELL or other assets on Moonbeam needs to act before the network goes offline. For exchange users on KuCoin, that action is being handled for them. For self-custody holders, the clock is ticking, and Moonwell’s in-app migration tools are the path of least resistance.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Moonbeam, once the crown jewel of Polkadot’s parachain ecosystem, is pulling the plug. The network will cease operations on July 31, 2026, and every user with funds parked on the chain, whether through Moonwell, Wormhole, or any other protocol, has a hard deadline to get their money out.

What’s happening and why it matters Wormhole, the cross-chain interoperability protocol that enables token transfers across blockchains, has issued a direct warning to its users. Any assets bridged to Moonbeam via Wormhole must be withdrawn and transferred to other networks before the shutdown date. Once the parachain winds down, Wormhole contributors will not be able to assist with any stuck assets.

Moonwell, the decentralized lending protocol that operates on Moonbeam, is taking the threat seriously. The protocol has introduced governance proposal MIP-M45, which aims to halt all new supply and borrowing activity on Moonbeam ahead of the parachain’s closure. The proposal also calls for withdrawing reserves from various markets on the chain.

The assets affected on Moonwell include GLMR, xcDOT, USDC, FRAX, and ETH. Users with open lending or borrowing positions on the protocol’s Moonbeam deployment need to close them manually. There is no automatic migration, no safety net, no do-over.

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Moonwell’s strategic retreat from Polkadot Moonwell deprecated its Moonriver deployment on January 29, 2026. Moonriver is Kusama’s equivalent of what Moonbeam is to Polkadot, essentially a canary network that served as a testing ground.

Then, on May 21, 2026, Moonwell migrated its governance from Moonbeam to the Ethereum mainnet. MIP-M45 is the final chapter of that migration story. By halting all new lending and borrowing on Moonbeam, the protocol is effectively telling its remaining users: we’re leaving, and you should too.

The GLMR token migration to Base For holders of GLMR, Moonbeam’s native token, there’s a specific path forward. The token is scheduled to migrate on a 1:1 basis to an ERC-20 token on Base, Coinbase’s Layer-2 network built on Ethereum’s OP Stack.

A migration bridge has been set up for this purpose, but it comes with the same hard deadline. The bridge is expected to remain operational only until July 31, 2026. After that, any GLMR still sitting on Moonbeam becomes unrecoverable.

Moonbeam was the first parachain on Polkadot to support full Ethereum-compatible smart contracts, having launched on January 11, 2022.

What investors and users should do now The immediate priority is straightforward: if you have any assets on Moonbeam, move them. This applies whether you’re using Moonwell, Wormhole, or any other protocol deployed on the chain.

For Moonwell users specifically, the steps involve closing any open lending or borrowing positions on the Moonbeam deployment. For GLMR holders, the 1:1 migration to an ERC-20 token on Base needs to happen before the bridge closes on July 31, 2026.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Moonwell, the decentralized lending protocol, has put forward a governance proposal to formally wind down its operations on the Moonbeam network before the chain shuts down entirely on July 31, 2026. The proposal, designated MIP-M45, is currently live for on-chain voting.

What MIP-M45 actually does The proposal lays out a structured plan to withdraw protocol reserves from several Moonbeam markets, including GLMR, xcDOT, USDC, FRAX, and ETH. Those funds would be transferred to a Foundation-designated wallet specifically aimed at settling any bad debts remaining in the system.

Beyond the reserve withdrawal, Moonwell plans to halt all new supply and borrowing activity on Moonbeam.

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Existing users still have positions open on Moonbeam, and the message from Moonwell is pretty clear. Close your positions and withdraw your funds before the deadline, or risk losing access to those assets entirely once the chain goes offline.

To nudge users toward the exit, collateral factors across Moonbeam markets will be reduced.

The bigger picture: Moonbeam’s shutdown and GLMR migration Moonbeam’s parachain operations are being fully sunset by July 31, 2026. As part of that process, the GLMR token is migrating at a 1:1 ratio to an ERC-20 token on the Base network. A new bridge is expected to remain operational through the end of the month to facilitate the transition.

This isn’t the first time Moonwell has gone through this exercise. The protocol fully deprecated its deployment on Moonriver back on January 29, 2026, after Chainlink pulled its oracle support from that network.

Governance for Moonwell was migrated from Moonbeam to Ethereum mainnet on May 21, 2026. Just eight days later, on May 29, new lending markets on Ethereum were proposed.

What this means for investors If you have any positions open on Moonwell’s Moonbeam deployment, the clock is ticking. Assets remaining on Moonbeam after the July shutdown may become permanently inaccessible.

For GLMR holders, the 1:1 token migration to Base needs to happen before the bridge closes. The bridge is only expected to remain operational through the end of July, which creates a tight timeline for anyone holding GLMR on the original chain.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

The Moonbeam Foundation, N3MUS, and Sao Mai Games are thrilled to announce the launch of GLMillionaiRe, a groundbreaking onchain gaming tournament designed to showcase competitive gameplay, reward top performers, and bring new users into the Moonbeam ecosystem.

With a 1,000,000 GLMR prize pool and an entry fee of just 10 GLMR per game, GLMillionaiRe rewards both individual game performance and leaderboard consistency. The first weeklong tournament will run August 21–28, with additional tournaments to follow.

Onchain Gaming at Scale: GLMillionaiRe Features and Format Table of Contents

Onchain Gaming at Scale: GLMillionaiRe Features and FormatBetting for Spectators: Onchain Predictions via OddsHubPrize Breakdown and Tournament MechanicsMajor Prize TracksAdditional Leaderboard PrizesSustainability & FairnessBuilt-In Security, KYC, and Anti-Cheat ProtectionsAnti-Cheat Measures Include:A Unified Ecosystem for Web3 GamingGet StartedAbout MoonbeamAbout N3MUSAbout Sequence GLMillionaiRe features Moondrop, a fast-paced, reflex- and speed-based web mini-game developed by Sao Mai. The tournament is powered by N3MUS, a web3 gaming infrastructure provider, and utilizes Sequence’s web3 developer platform and smart wallet solutions to streamline onboarding for new players.

Key elements:

Entry, scoring, and rewards are all handled onchain  Intuitive onboarding via Sequence’s smart wallet abstraction  Gas-free gameplay for participants  “GLMillionaiRe is more than a contest; it’s an experiment in onchain gaming at scale,” said Sicco Naets, Head of Ecosystem at Moonbeam. “With a small entry fee, zero gas for players, and intuitive onboarding via the Sequence wallet, the tournament lowers the barrier for mainstream adoption while introducing gamers to the speed and security of Moonbeam.”

Betting for Spectators: Onchain Predictions via OddsHub To expand participation beyond players, the Moonbeam Foundation has partnered with OddsHub, an onchain prediction market platform. Spectators can place bets on:

Who will hit the high score  Final scores  Other pre-set predictions  This feature enables broader engagement with the Moondrop tournament, even for non-players.

Prize Breakdown and Tournament Mechanics Each contestant may play up to five games per day during the seven-day event. Prizes are structured across two main tracks:

Major Prize Tracks Highest single-game score: 450,000 GLMR  Highest cumulative score: 450,000 GLMR  Additional Leaderboard Prizes 10 secondary prizes: 10,000 GLMR each  Sustainability & Fairness Top two prize winners receive payouts in monthly installments over 10 months  All entry fees are recycled into future prize pools  Previous top winners are ineligible for the first prize again to give new players a fair chance  Built-In Security, KYC, and Anti-Cheat Protections GLMillionaiRe is built with transparency and fairness at its core:

All players use a Moondrop smart wallet via social login (powered by Sequence)  Strict ban on multi-account participation  Wallet funding checks by N3MUS to prevent sybil attacks  Governed by a comprehensive onchain Fair Play Policy  Anti-Cheat Measures Include: Score publishing  Sleep detection  Multi-account detection  Social quest verification  KYC required for all prize winners  A Unified Ecosystem for Web3 Gaming “Our ecosystem teams have been working on this behind the scenes for several months and this tournament is a strong statement of intent,” said Naets. “It’s web3 gaming with real stakes, real scalability, and real community alignment. GLMillionaiRe shows how Moonbeam, N3MUS, Sao Mai, and Sequence can work seamlessly together to create onchain experiences that are fun, fair, and fully decentralized.”

Moonbeam’s push into gaming is backed by measurable growth, according to FiDi:

Gaming transactions rose by 154.8% QoQ, reaching 1.57 million in Q2 2025  Unique active wallets surged by 76.1% to 8,500  Over 600,000 games played in N3MUS-powered tournaments  Get Started Visit n3mus.com to register, set up your Sequence wallet, and start competing. Follow @MoonbeamNetwork on X for tournament coverage, partner announcements, and prize breakdowns.

About Moonbeam Moonbeam is a smart contract platform for building cross-chain connected applications that can tap into users, assets, and services across any blockchain. By combining Ethereum compatibility, Polkadot scalability, and integrated cross-chain messaging, Moonbeam enables seamless interoperability and a unified developer experience—paving the way for the next generation of connected apps. With a growing focus on Gaming and DeFi, Moonbeam offers early-stage developers a secure, low-friction environment to launch, grow their user base, and tap into Polkadot’s shared security and cross-ecosystem reach.

About N3MUS N3MUS provides infrastructure for running scalable, on-chain tournaments that prioritize transparency, verified player activity, and long-term engagement. Designed to support studios of all sizes, N3MUS enables competitive formats that are fair, automated, and accessible, without requiring players to manage wallets or understand blockchain.

About Sequence Build, scale, and unify your blockchain ecosystem with Sequence, your all-in-one open-source development platform for chains, games, and apps. One integration gives developers everything they need to create seamless, scalable, and engaging experiences. No more stitching together multiple solutions—just a single, powerful platform that accelerates adoption, enhances user experiences, and drives network effects.

Whether you’re launching a new chain, building the next big game, or shipping a breakthrough app, Sequence makes web3 development easy, efficient, and future-proof. Powering the EVM ecosystem of blockchains, thousands of developers, and millions of users, Sequence is backed by leading investors, including Take-Two Interactive, Ubisoft, Xsolla, and Coinbase.

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.